If you’re unlucky enough to be going through a car insurance claim at the moment, then you’ll be realising what a complicated world it really is. The best advice out there is, do your research.
After your accident, there are 3 main things that your insurance company will be looking at:
- Who’s at fault?
- Were you adhering to the T&C’s outlined in your insurance policy documents?
- How badly is the vehicle damaged?
Once they have determined an answer to all 3, they will begin the payout proceedings. Insurance companies are always looking for a way out of paying you for your claim. That’s why it’s important to make sure the policy is in your name, and that you stick to the parameters you set out when you took the policy.
Assuming they’re happy, the next step for your insurer will be to assess the vehicles damage, the insurer will look at the vehicles value, and how much it will cost to repair. If that amount is greater than roughly 50 or 60% of the vehicles value, then it will be written-off. If it’s less, they will appoint a reputable garage to conduct the repairs for you.
How to Earn More
There are 2 main way to boost your insurance payout following an accident. One requires a little work, and one is very simple. We recommend doing both and then you’re sure to increase your payout substantially.
The first way to extract more value from your claim is by negotiating on the settlement price. When insurance companies write-off your vehicle, they pay you an amount to cover a like-for-like replacement of your vehicle, in the area in which you live. Your insurer may lowball your car write off value, so they don’t have to pay you as much, so do your research! Looking at car buying sites will give you a good sense of what is a fair amount for your vehicle. When your insurer comes to you with an offer, don’t feel obliged to accept! You are well within your rights to negotiate if you don’t feel it’s adequate. Another option to help you know what your car is really worth, is to use a clever tool from a company called CarCrashProfit. They developed an insurance write-off calculator, that will give you an instant real-time valuation for your vehicle, for free!
Which leads us on to the second way to earn more from your claim. This site also specialises in helping customers to earn more money from their insurance claims. They do it by working with you to buy your damaged car back from your insurance company, and giving you profit for it. They do it by using your “right-to-retain” your vehicle following an accident, to take back your car. You get an instant payment of profit into your account, and they go and collect your vehicle. Win Win!
So next time you find yourself going through an insurance claim, check out CarCrashProfit for all things accident related. You might find they send an extra wedge of money your way!